Lightwave Logic, Inc. (LWLG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LWLG SEC filings page.
Lightwave Logic, Inc. (LWLG) reported $250K in revenue over the twelve months to Jun 30, 2026, up 165.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The development-stage business has tiny revenue, persistent operating losses, and a cash base funded mainly by financing, not sales.
Revenue reached$237K in FY2025 from$41K in FY2023, but sales remain too small to absorb the cost base. Operating cash flow was-$12.2M in FY2023 and-$13.7M in FY2025, so revenue expansion has not yet changed the company’s reliance on external capital.
FY2025 R&D spending was
The reported liquidity comparison was 60.2 months of FY2025 operating outflow, while FY2025 financing cash flow supplied
Financial Health Signals
Lightwave Logic, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Lightwave Logic, Inc. scores 78.10, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($612.0M) relative to total liabilities ($4.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Lightwave Logic, Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Lightwave Logic, Inc. reported a net loss of $20.3M while operations used $13.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Lightwave Logic, Inc. generated $33K in revenue in Q2 2026. This represents an increase of 27.9% from the same quarter a year earlier. Against the prior quarter it is up 12.3%.
Lightwave Logic, Inc.'s EBITDA was -$6.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 53.6% from the same quarter a year earlier. Against the prior quarter it is down 8.8%.
Lightwave Logic, Inc. reported -$6.6M in net income in Q2 2026. This represents a decrease of 33.2% from the same quarter a year earlier. Against the prior quarter it is down 5.0%.
Lightwave Logic, Inc. earned -$0.04 per diluted share (EPS) in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.
Cash & Balance Sheet
Lightwave Logic, Inc. recorded an outflow of $6.9M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 80.8% from the same quarter a year earlier. Against the prior quarter it is down 52.7%.
Lightwave Logic, Inc. held $47.2M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Lightwave Logic, Inc.'s ROE was -6.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 10.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.4 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Lightwave Logic, Inc. invested $3.9M in research and development in Q2 2026. This represents an increase of 48.0% from the same quarter a year earlier. Against the prior quarter it is up 11.1%.
Lightwave Logic, Inc. invested $1.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 2546.5% from the same quarter a year earlier. Against the prior quarter it is up 137.1%.
Not reported for Q2 2026.
LWLG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33K+27.9% | $29K+27.3% | $159K+594.5% | $29K+27.3% | $26K+32.3% | $23K-24.7% | $23K | $23K |
| Cost of Revenue | N/A | $1K-34.1% | N/A | N/A | $3K | $2K-60.8% | N/A | $1K |
| Gross Profit | N/A | $28K+33.2% | N/A | N/A | $22K | $21K-17.2% | N/A | $22K |
| R&D Expenses | $3.9M+48.0% | $3.5M+13.0% | $2.9M-28.4% | $2.9M-23.8% | $2.6M-39.9% | $3.1M-33.1% | $4.0M | $3.8M-5.3% |
| SG&A Expenses | $3.4M+48.8% | $3.3M+77.6% | $3.1M+77.8% | $2.3M+53.7% | $2.3M+21.3% | $1.8M+46.3% | $1.7M | $1.5M+10.8% |
| Operating Income | -$7.3M-48.3% | -$6.7M-37.1% | -$5.8M-1.3% | -$5.2M+2.2% | -$4.9M+21.5% | -$4.9M+16.2% | -$5.7M | -$5.3M+1.7% |
| EBITDA | -$6.8M-53.6% | -$6.2M-40.0% | -$5.3M-0.9% | -$4.7M+3.6% | -$4.4M+24.2% | -$4.5M+18.6% | -$5.3M | -$4.9M+5.1% |
| Income Tax | $0 | $0 | N/A | $0 | $0 | $0 | N/A | $0 |
| Net Income | -$6.6M-33.2% | -$6.3M-34.1% | -$5.5M-0.3% | -$5.1M+3.8% | -$5.0M+17.5% | -$4.7M+17.3% | -$5.5M | -$5.3M-2.6% |
| EPS (Basic) | -$0.040.0% | -$0.040.0% | N/A | -$0.040.0% | -$0.04+20.0% | -$0.04+20.0% | -$0.05-25.0% | -$0.040.0% |
| EPS (Diluted) | -$0.040.0% | -$0.040.0% | -$0.04+20.0% | -$0.040.0% | -$0.04+20.0% | -$0.04+20.0% | -$0.05-25.0% | -$0.040.0% |
| Diluted Shares (Avg) | 153M+22.5% | 148M+19.5% | N/A | 130M+7.2% | 125M+4.2% | 124M+4.2% | N/A | 121M+3.8% |
Not reported in any period shown, so not listed: Interest Expense.
LWLG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $108.1M+233.2% | $85.9M+141.1% | $79.2M+109.4% | $44.8M+20.3% | $32.4M-18.5% | $35.6M-14.6% | $37.8M-9.5% | $37.2M-4.8% |
| Current Assets | $98.1M+331.0% | $76.5M+199.4% | $69.8M+148.3% | $35.5M+29.1% | $22.8M-24.1% | $25.6M-20.8% | $28.1M-14.0% | $27.5M-12.6% |
| Cash & Equivalents | $47.2M+113.5% | $75.1M+199.9% | $69.0M+149.4% | $34.9M+30.0% | $22.1M-24.3% | $25.0M-20.5% | $27.7M-12.0% | $26.9M-12.9% |
| Short-Term Investments | $48.7M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $16K+50.0% | $216K+1050.7% | $191K+318.6% | $36K+33.3% | $11K+33.3% | $19K-67.0% | $46K+50.0% | $27K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.9M+7.0% | $4.6M+12.5% | $4.5M+3.5% | $3.6M-4.5% | $3.6M-13.8% | $4.1M-9.9% | $4.4M-18.1% | $3.8M+2.2% |
| Current Liabilities | $1.6M+42.1% | $2.3M+46.4% | $2.1M+19.6% | $1.1M+1.7% | $1.1M-26.4% | $1.5M-15.1% | $1.8M-30.9% | $1.1M+28.6% |
| Non-Current Liabilities | $2.3M-8.3% | $2.4M-7.9% | $2.4M-7.5% | $2.5M-7.1% | $2.5M-6.8% | $2.6M-6.4% | $2.6M-6.1% | $2.6M-6.0% |
| Total Equity | $104.2M+261.5% | $81.3M+157.7% | $74.6M+123.3% | $41.2M+23.1% | $28.8M-19.1% | $31.5M-15.2% | $33.4M-8.3% | $33.5M-5.5% |
| Retained Earnings | -$180.2M-15.0% | -$173.6M-14.4% | -$167.3M-13.8% | -$165.9M-14.5% | -$156.7M-12.2% | -$151.7M-13.6% | -$147.0M-18.1% | -$144.9M-17.8% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
LWLG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.8M-54.4% | -$4.1M-16.4% | -$3.3M-5.6% | -$3.2M+11.5% | -$3.8M+6.9% | -$3.5M+26.9% | -$3.1M-35.1% | -$3.6M-23.4% |
| Depreciation & Amortization | $491K+0.6% | $496K+9.1% | $469K+6.0% | $492K+12.8% | $488K+16.7% | $455K+17.7% | $442K+37.5% | $436K+63.6% |
| Stock-Based Compensation | $1.8M+62.3% | $1.7M+75.4% | N/A | $1.1M-7.4% | $1.1M-40.5% | $979K+41.8% | N/A | $1.2M |
| Capital Expenditures | $1.1M+2546.5% | $450K-47.2% | $379K+14.0% | $59K-83.0% | $40K-95.0% | $854K+10.1% | $332K-77.5% | $350K-58.1% |
| Free Cash Flow | -$6.9M-80.8% | -$4.5M-3.9% | -$3.7M-6.4% | -$3.2M+17.9% | -$3.8M+21.6% | -$4.3M+21.7% | -$3.5M+8.7% | -$3.9M-5.2% |
| Investing Cash Flow | -$49.9M-48397.1% | -$621K+30.9% | -$591K-40.9% | -$224K+64.2% | -$103K+87.5% | -$899K-8.6% | -$419K+73.3% | -$625K+28.4% |
| Financing Cash Flow | $27.8M+2873.4% | $10.8M+509.4% | $38.0M+774.9% | $16.2M+753.4% | $935K-63.5% | $1.8M-68.9% | $4.3M-2.4% | $1.9M-6.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LWLG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | 95.4%+4.3pp | N/A | N/A | 86.5% | 91.1%+8.2pp | N/A | 94.6% |
| Operating Margin | -22195.2% | -23058.0% | -3629.3% | -17757.5% | -19137.6% | -21405.0% | -24879.3% | -23115.3% |
| Net Margin | -20194.2% | -21601.6% | -3486.6% | -17488.0% | -19397.1% | -20495.8% | -24150.3% | -23131.9% |
| Return on Equity | -6.3%+10.9pp | -7.8%+7.1pp | -7.4%+9.1pp | -12.4%+3.5pp | -17.2%-0.3pp | -14.9%+0.4pp | -16.6% | -15.8%-1.3pp |
| Return on Assets | -6.1%+9.2pp | -7.3%+5.8pp | -7.0%+7.6pp | -11.4%+2.8pp | -15.3%-0.2pp | -13.2%+0.4pp | -14.6% | -14.2%-1.0pp |
| Current Ratio | 62.84+42.1x | 33.99+17.4x | 32.69+16.9x | 31.06+6.6x | 20.72+0.6x | 16.62-1.2x | 15.75+3.1x | 24.48-11.6x |
| Debt-to-Equity | 0.04-0.1x | 0.06-0.1x | 0.06-0.1x | 0.090.0x | 0.120.0x | 0.130.0x | 0.130.0x | 0.110.0x |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.00 | 0.000.0x |
| FCF Margin | -21035.2% | -15468.3% | -2319.2% | -11093.4% | -14881.6% | -18953.9% | -15134.1% | -17193.6% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Lightwave Logic, Inc. LWLG | FY2025 | $237K | -$20.3M | N/A | $612.0M | — |
| Hudson Technologies Inc HDSN | FY2025 | $246.6M | $16.7M | 6.8% | $210.9M | 62/100 |
| Orion S.A. OEC | FY2025 | $1.8B | -$70.0M | -3.9% | $301.8M | 33/100 |
| Koppers Holdings, Inc. KOP | FY2025 | $1.9B | $56.0M | 3.0% | $819.2M | 48/100 |
| Mativ Holdings, Inc. MATV | FY2025 | $2.0B | -$337.4M | -17.0% | $618.7M | 34/100 |
| Kronos Worldwide, Inc. KRO | FY2025 | $1.9B | -$110.9M | -6.0% | $855.2M | 36/100 |
Where Lightwave Logic, Inc. Ranks
Frequently Asked Questions
What is Lightwave Logic, Inc.'s annual revenue?
Lightwave Logic, Inc. (LWLG) reported $237K in total revenue for fiscal year 2025. This represents a 147.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Lightwave Logic, Inc.'s revenue growing?
Lightwave Logic, Inc. (LWLG) revenue grew by 147.7% year-over-year, from $96K to $237K in fiscal year 2025.
Is Lightwave Logic, Inc. profitable?
No, Lightwave Logic, Inc. (LWLG) reported a net income of -$20.3M in fiscal year 2025.
What is Lightwave Logic, Inc.'s EBITDA?
Lightwave Logic, Inc. (LWLG) had EBITDA of -$18.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Lightwave Logic, Inc.'s gross margin?
Lightwave Logic, Inc. (LWLG) had a gross margin of 97.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Lightwave Logic, Inc.'s return on equity (ROE)?
Lightwave Logic, Inc. (LWLG) has a return on equity of -27.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Lightwave Logic, Inc.'s free cash flow?
Lightwave Logic, Inc. (LWLG) recorded an outflow of $15.1M in free cash flow during fiscal year 2025. This represents a 15.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Lightwave Logic, Inc.'s operating cash flow?
Lightwave Logic, Inc. (LWLG) recorded an outflow of $13.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Lightwave Logic, Inc.'s total assets?
Lightwave Logic, Inc. (LWLG) had $79.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lightwave Logic, Inc.'s capital expenditures?
Lightwave Logic, Inc. (LWLG) invested $1.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Lightwave Logic, Inc. spend on research and development?
Lightwave Logic, Inc. (LWLG) invested $11.5M in research and development during fiscal year 2025.
What is Lightwave Logic, Inc.'s current ratio?
Lightwave Logic, Inc. (LWLG) had a current ratio of 32.69 as of fiscal year 2025, which is generally considered healthy.
What is Lightwave Logic, Inc.'s debt-to-equity ratio?
Lightwave Logic, Inc. (LWLG) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lightwave Logic, Inc.'s return on assets (ROA)?
Lightwave Logic, Inc. (LWLG) had a return on assets of -25.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Lightwave Logic, Inc.'s P/E ratio?
Lightwave Logic, Inc. (LWLG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $612.0M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Lightwave Logic, Inc.'s price-to-sales ratio?
Lightwave Logic, Inc. (LWLG) has no price-to-sales ratio at the moment: outside the range published as a multiple (on $250K revenue, trailing 12 months to June 30, 2026). The market capitalization is $612.0M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Lightwave Logic, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Lightwave Logic, Inc. (LWLG) held $69.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $13.7M over that year. Dividing the one by the other, the reported balance equals about 60 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Lightwave Logic, Inc.'s Altman Z-Score?
Lightwave Logic, Inc. (LWLG) has an Altman Z-Score of 78.10, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Lightwave Logic, Inc.'s Piotroski F-Score?
Lightwave Logic, Inc. (LWLG) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Lightwave Logic, Inc.'s earnings high quality?
Lightwave Logic, Inc. (LWLG) reported a net loss of $20.3M while operations used $13.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.